We can sell our two bed flat in FH and buy a nice 3/4 bed house in Norfolk, am I happy my flat has gone up in value by nearly £200k in 10 years? You bet I am!

By my comment on credit history I meant that lenders are more stringent now because of the crunch and few will lend to anyone without a 5 year clean slate- and that means on everything including a minor breach on a phone bill payment. Utility companies and other firms are apparently registering small debts and many people don't even know their rating has been affected as its not formally notified. With things the way they are for people with rising costs for even the basics I think its difficult for a lot of people to stay squeaky clean. I've been exploring remortgaging through a couple of brokers and this is the general advice I've been given as well as to expect to pay £2-£3k (sometimes more) for an upfront mortgage admin charge which itself is prohibitive. Most brokers are suggesting that people check their Equifax rating before making a formal mortgage application, as to get a knock back on this would only worsen the position, and it will dictate which lender the broker will to talk to.

It really is scary out there. As a society we really do need credit on reasonable terms in order to function and its not around any more. Without first time buyers getting loans they can afford the property market stagnates. There are also few buy to let arrangements around which means that the rental supply isn't growing either. I don't actually think its been that harmful to the overall market position as the supply of rented stock in the UK is probably lower than most European countries. Last night's Newsnights report on the current problems and predictions of a further worsening situation was very dire. I wouldn't personally take out a mortgage in the current situation if I hadn't had one already.

Re; the local property market; it could be good news still for people wanting to buy a small flat, as there are plenty of them on the market so there are opportunities to negotiate. The market for family houses has however apparently rocketed due to the good schools in the area- the people buying these are moving from more expensive areas such as East Dulwich and buying bigger for less. So there are completely different markets for various types of property and some will increase more rapidly than others. However I do know plenty of owners of small flats who can't even get any viewings at all.

Another 5 years of this I think before we get something a bit more stable..

The "tube bounce" may be difficult to quantify in a London-wide downward market trend.

However the ES is waxing lyrical about a +5.1% London wide bounce in ONE month at this link:

http://www.thisislondon.co.uk/news/londo...rnalSearch

Lewisham shows a lower annual increase at +3.6% with 0% in the last month. None of these figures is reconcilable with previously reported figures at +0.2% per month at best and 0% at worst.

So which case is it ?

I do not think that monthly figures mean anything really. They just make copy for newspapers...

One can draw conclusions from year on year figures though. According to Land Registry, London-wide there was a 5% annual increase in Q3 2011. Lewisham was more like 7% and some boroughs had a drop in the same period.

AFAICT, property values locally do seem to be still rising since the tube arrival even allowing for inflation. This is quite distinct from how many sales are occurring, though of course one can have an influence on the other.

I have lived in the area for 12 years and seen it change greatly. I do not have kids but from those parents I know / have known I would say there is a trend for FH to be a stepping stone onto Beckenham etc once the kids are older. Given the area has changed quite dramatically, it is only to be expected there is a lag in the schools. Hopefully before long enough people will stay in the area which will help the schools improve. I'm sure a similar dynamic has occured in other areas of London so I do not see this as being a contraversial statement.

People do leave forest hill for other areas such as beckenham when their kids reach secondary school age but it is far from a trend. I don't know of any families who have made this move, only anecdotally. Even when the property market was buoyant I didn't see evidence of people with secondary age kids leaving the area in significant numbers.

The local secondary schools are good, have improved and continue to improve. My only issue with secondary schools around here, and in London in general, is that they tend to be single gender. But I only have a problem with that as it is not what I grew up with and it means my kids will go to different schools.

Family houses in Beckenham in the catchment area for Langley start at about £850k - anyone moving there just for the schools would probably find it cheaper to go private, unless you can downsize. I have a friend who traded a huge six-bedroom Victorian villa in Penge for a three-bedroom thirties semi in Beckenham to get into the catchment.

Not all secondary schools operate on a catchment policy, so moving is not always necessary. My kids go to a mixed school in Streatham. Kids tend to travel much further for secondary school than primary. Buses are free, and the Overground costs £1 per journey. The only downside is that their friends are also more spread out, but my eldest (aged 14) can now confidently negotiate buses, trains and overground to meet her friends in town or in Croydon, Streatham, Crystal Palace or Bromley. She is much more self sufficient than her friends who go to school much closer to home.

It's hard to imagine when your kids are in primary school that sending them to a secondary school that is not 'local' can be a good thing, but it works well for us.

This post was last modified: 06-06-2012 12:06 PM by rshdunlop.

Sending them to a local secondary school may not result in them really being local. I know from our local primary that the boys seem to have a hierarchy of Harris, Kingsdale and Forest Hill boys of the locals with a few looking at grammars, church, private and some moving to different areas.

They may actually find more of their peers at Harris than if they went to FH boys. I guess the only truly local schools are those with small catchment area whereas FH has a big catchment area and your kids are more likely to sit in class with kids who have come to school by bus than walked.

There is no right or wrong just what is best for your kid. I do support the idea of local schools having been to the one and only local school where I lived but I guess choice has ruined that concept here.